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Sovereign Wealth Funds Briefing 27.Aug 2012

Posted on 27 August 2012 by VRS |  Email |Print

Sovereign wealth funds (SWFs) of the six-nation Gulf Cooperation Council (GCC) states are substantial enough on the one hand and have positive implications for regional and global economies on the other. In other words, benefits of these SWFs are not confined to GCC economies, as these investments in the form of deposits, own ownership of securities issued by authorities in the US and others as well as investments are all over the world.
By one account, combined value of various SWFs of GCC authorities surpassed US$1.7 trillion at the start of the year. Certainly, this is a staggering figure by virtue of being some $600 billion above the monetary value of gross domestic product (GDP) of GCC states put together………………………………………..Full Article: Source

Posted on 27 August 2012 by VRS |  Email |Print

Qatar Holding is targeting a “strategic minority” stake in Xstrata even if a merger with Glencore does not go through and the fund is a buyer of the mining giant at current prices, sources familiar with the matter said.
The investment arm of the tiny Gulf state’s sovereign wealth fund has proved to be a stumbling block for commodities trader Glencore’s proposed $30 billion takeover of Xstrata, demanding improved terms and threatening to vote against the tie-up………………………………………..Full Article: Source

Posted on 27 August 2012 by VRS |  Email |Print

Sovereign wealth fund Qatar Holding is set to more than double its stake in miner Xstrata if a planned £41billion merger with commodity trader Glencore fails.Qatar is thought to be planning to boost its 12 per cent stake in the miner to a quarter if shareholders reject the tie-up with Glencore in a vote on September 7.
Glencore , which already owns 34 per cent of Xstrata, is offering 2.8 new shares for every Xstrata share held to secure a deal it hopes will create a mining and trading powerhouse………………………………………..Full Article: Source

Posted on 27 August 2012 by VRS |  Email |Print

Our position remains that the fund should be well utilised, especially the future generation aspect of the fund. The fund should be invested in the Nigerian market. It does not make sense for Nigeria to take funds out of its own economy and deposit such funds with investment banks abroad or for them to be invested abroad, because that would mean that they will be using the fund to develop such economies.
We should use our savings and our reserves to develop our own economy. In any case, we have heard of countries that even lost major part of their funds in the process of sending the funds abroad. Libya is a good example. I understand Libya lost about 80 per cent of its Sovereign Wealth Fund. We do not want to do that here in Nigeria, therefore, we should use our funds here to develop our economy………………………………………..Full Article: Source

Posted on 27 August 2012 by VRS |  Email |Print

Angola is set to appoint global PR support for the oil-rich nation’s new sovereign wealth fund. The fund is expected to receive as much as $25bn upon launch, and is forecast to become one of the world’s five largest sovereign wealth funds according to current oil price trends, reaching $120bn by 2020.
Expected to launch in 2010, the fund has been repeatedly delayed according to reports in the financial press. However, the IMF’s Angolan loan program calls for the fund’s creation, to invest the country’s oil wealth abroad………………………………………..Full Article: Source

Posted on 27 August 2012 by VRS |  Email |Print

Establishing a sovereign wealth fund requires a country to have healthy revenue sources and a sound management structure, otherwise it could fail as a tool for addressing foreign capital inflows and seeking a higher rate of return on assets, says Christopher Balding of Peking University’s HSBC Business School.
Dr Balding, an expert in sovereign wealth funds, said they have created a question of whether they truly serve their original mandate, for in many cases the goal of long-term investment has been sidetracked by political aims………………………………………..Full Article: Source

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